User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Saturday July 19, 2008 - 01:01:16 GMT

Share This Story:
| | Email

Forex Blog - US Dollar: New Week, Same Drivers

• Eurozone Economy Continues to Slow
• Big Week for the British Pound

US Dollar: New Week, Same Drivers

It has been a very volatile week for the US dollar, even though compared to the beginning of the week, the exchange rate for the EUR/USD and USD/JPY has remained virtually unchanged.  On Monday, the EUR/USD was trading at 1.5922 while USD/JPY was trading at 106.26, not far from current levels, but of course these rates masks what can only be likened to a rollercoaster ride in the financial markets.  There was a number of event risks and economic data released over the past week, yet the drivers of the financial market volatility can be boiled down to 2 things; the health of the financial sector and oil prices.  We have come a long way since traders first speculated about the possible demise of Fannie Mae and Freddie Mac.  The Federal Reserve and the Treasury have offered different solutions to avert more serious problems while Freddie Mac has announced plans to raise capital by selling as much as $10 billion in new shares to investors.  Based upon the 600 point recovery in the Dow off of Tuesday’s intraday low, for the time being traders believe that this could be enough.  JPMorgan and Citigroup have reported better than expected earnings even though Merrill Lynch disappointed; 2 out of 3 appears to keep the markets happy for the time being.  As for economic data, we learned that inflation remains hot but consumer spending is beginning to falter.  With the US economic calendar considerably lighter next week, the health of the financial sector, oil and the stock market will continue to set the tone for the FX markets.  Earnings season is in full swing.  Bank of America will be releasing their earnings report on Monday and for the rest of the week there will be a number of regional banks reporting.  Leading indicators, durable goods, the final July UMich consumer confidence numbers, new and existing home sales are due for release along with the Federal Reserve’s Beige Book report. We will be keeping a particular close eye on the Beige Book report because it will serve as a temperature gage for how the US economy is really doing and how businesses and consumers may coping with the latest developments in the stock and commodity markets.

Eurozone Economy Continues to Slow

The Euro is consolidating near its all time highs against the US dollar, even though we are reminded on a near daily basis about the risks to Eurozone growth.  Last night I was having dinner with a businessman from France and he described to me the sour mood in Europe. He indicated that businesses are growing very pessimistic which confirms that Europeans are tightening their belts as they learn to deal with high prices.  This conversation comes at a perfect time because the marquee release on the Eurozone calendar next week is the German IFO report of business confidence.  Like the ZEW survey of analyst confidence, business confidence should have deteriorated materially over the past month.   Not only did the European Central Bank raise interest rates for the first time since June 2007, but exports, factory orders and industrial production have also plummeted which confirms that business activity has dropped significantly. The only wrinkle to this outlook was the sharp rebound in German retail sales, but we think that this should be a mute point since higher energy prices was a big reason for the increase in spending.  Even though German producer prices grew by more than expected in June, the Eurozone trade deficit deteriorated materially in May, which came as a big surprise to the market. 

Visit the Euro Currency Room for resources dedicated specifically to the Euro.

Big Week for the British Pound

The British pound has been at the whim of risk appetite and the US dollar for most of the week, but things will change in the coming week as the UK economic calendar is chock full of market moving data.  The country will be releasing their retail sales report for the month of June and the advance release of second quarter GDP.  After the big jump in May, we expect consumer spending to contract significantly– traders just need to be careful because the forecasts which are already low.  The Bank of England will also be releasing the minutes from their most recent monetary policy meeting.  Although they left interest rates unchanged, it will be interesting to see if any of the monetary policy committee members leaned towards a rate change. 

Visit the British Pound Currency Room for resources dedicated specifically to the British Pound.

Australia, New Zealand and Canada Look Ahead to Busy Week

Like the British pound, the Australian, New Zealand and Canadian dollars will be in play next week with a ton of data due for release.   The Australian dollar has another chance at making a run for the 25 year high on producer prices Sunday night.  Inflationary pressures have been strong in countries around the world and Australia is no exception.  Canada on the other hand has retail sales and consumer prices due for release.  Given the sharp rise in today’s wholesale sales report, retail sales in May should be strong.  Consumer prices on the other hand could actually surprise to the downside given the slower growth in industrial product and raw material prices.  Meanwhile there is a monetary policy decision in New Zealand.  Even though we do not expect the Reserve Bank to alter interest rates, RBNZ Governor Bollard could make cautionary comments that could hurt the kiwi.   

Tell us what you think on the Canadian dollar Forum. 

Bank of Japan Growing More Concerned About Growth

The Japanese Yen crosses are higher today thanks to the recent recovery in US stocks.  The Bank of Japan has finally acknowledged what we all have felt for some time, which is that the Japanese economy is in trouble.  According to the latest BoJ minutes, the downside risks to growth now supersede inflation worries.   USD/JPY has had a very strong correlation with the S&P 500 over the past year and we expect this correlation to continue to drive the price action of the currency pair in the coming week.

Visit the Japanese Yen Currency Room for resources dedicated specifically to the Yen.




By Kathy Lien, Chief Strategist of

Contact Kathy Lien about this article at [email protected]


Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

John M. Bland, MBA
co-founding Partner,

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.

Request a TRIAL of Max's Forex Service.


Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map

Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105